Threats to UK pension savers

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  • lisyloo
    lisyloo Posts: 29,615 Forumite
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    Losing up to 50% of your company pension when your employer goes out of business !!

    Source bbc reporting PPF rules wrt Thomas cook.
  • zagfles
    zagfles Posts: 20,323 Forumite
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    lisyloo wrote: »
    Losing up to 50% of your company pension when your employer goes out of business !!

    Source bbc reporting PPF rules wrt Thomas cook.
    "up to 50%" is a sensationalist headline, 50% would only apply to the very highly paid. The vast majority will get at least 90%. Although possibly with worse indexation.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
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    zagfles wrote: »
    "up to 50%" is a sensationalist headline, 50% would only apply to the very highly paid. The vast majority will get at least 90%. Although possibly with worse indexation.

    My first concern when losing my job was finding another one. Pensions aren't normally the first task on the agenda.
  • lisyloo
    lisyloo Posts: 29,615 Forumite
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    zagfles wrote: »
    "up to 50%" is a sensationalist headline, 50% would only apply to the very highly paid. The vast majority will get at least 90%. Although possibly with worse indexation.

    That’s very good know.
    I must admit I was shocked to read that.
  • Mick70
    Mick70 Posts: 727 Forumite
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    political threats ? i.e if a hard left wing govt (corbyn? ) decided to reduce the LTA allowance level down to say 750k (or increase the tax percentage ?)
    stock market crash risks ?
  • Twopints
    Twopints Posts: 1,770 Forumite
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    Mick70 wrote: »
    political threats ? i.e if a hard left wing govt (corbyn? ) decided to reduce the LTA allowance level down to say 750k (or increase the tax percentage ?)
    stock market crash risks ?

    Is that the same LTA that was £1.8m in 2010? Since when it been reduced by a hard left wing govt to £1.055m.... Oh, wait, that can't be right

    :beer:
    Not even wrong
  • zagfles
    zagfles Posts: 20,323 Forumite
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    lisyloo wrote: »
    That’s very good know.
    I must admit I was shocked to read that.
    See https://www.ppf.co.uk/what-it-means-ppf

    The cap is about £40k at age 65, so way above the pension that most TC employees would be entitled to.
  • zagfles
    zagfles Posts: 20,323 Forumite
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    Twopints wrote: »
    Is that the same LTA that was £1.8m in 2010? Since when it been reduced by a hard left wing govt to £1.055m.... Oh, wait, that can't be right

    :beer:
    No it was reduced by them nasty Tories who like to help their rich mates...Oh wait - that can't be right either :beer:
  • michaels
    michaels Posts: 28,005 Forumite
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    Labour are confiscating 10% straight off to hand to the 'workers' regardless of whether they are earning 100k or more. Then perhaps they will confiscate another 10% for NHS and so on.
    I think....
  • Mick70
    Mick70 Posts: 727 Forumite
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    Twopints wrote: »
    Is that the same LTA that was £1.8m in 2010? Since when it been reduced by a hard left wing govt to £1.055m.... Oh, wait, that can't be right

    :beer:
    Ha.. I had wrongly assumed labour must have brought it in as a means of taxing higher earners / savers . Bit of a strange one why the tories reduced the LTA
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